If Accounts Receivable Decreases,this Indicates That Revenues Exceed Cash Receipts

question 21

True/False

If accounts receivable decreases,this indicates that revenues exceed cash receipts from customers.If accounts receivable increases,this indicates that revenues exceed cash receipts from customers.

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Definitions:

Civil Lawsuit

A legal dispute between two or more parties that seek monetary damages or specific performance rather than criminal sanctions.

Strict Liability

Liability regardless of fault. In tort law, strict liability may be imposed on a merchant who introduces into commerce a good that is so defective as to be unreasonably dangerous.

Product Liability

The area of law in which manufacturers, distributors, suppliers, and retailers are held responsible for any injuries products cause.

Contributory Negligence

A defense in personal injury lawsuits where the plaintiff's own negligence played a role in causing their injuries, potentially reducing or eliminating their compensation.